Moteefe inks $5 mn Series A

Moteefe, an ecommerce platform for on-demand production of merchandise, has secured $5 million in Series A funding.

Moteefe, an ecommerce platform for on-demand production of merchandise, has secured $5 million in Series A funding. Gresham House and Force Over Mass Capital led the round.

PRESS RELEASE

6 February 2020 – Moteefe, the e-commerce platform for on-demand production of merchandise has raised $5M in a Series A round led by Gresham House and Force Over Mass Capital. The funding will be used to expand into new geographies including Australia and LATAM, launch new products for large retailers, and invest in scaling its operations.

Moteefe provides an end-to-end technology platform for entrepreneurs, influencers, and (micro) retailers wanting to design, create and sell customised products, such as printed t-shirts or engraved jewellery. Brands use the platform to design new products and publish these in real-time to a white-labelled Moteefe store, or their own platform, for sale within minutes.

Unlike traditional marketplaces, users can launch their own stores on their own domain – so they maintain full ownership of the client relationship and data, with the options to use Moteefe’s end to end services including on demand production, fulfilment, payments and customer support – all for free. In addition, they have total flexibility to use the platform either as a fully integrated service or for just the parts they need.

Moteefe’s network of 15 production and fulfilment partners across Europe, USA, and Brazil makes it the ideal solution for micro-retailers and entrepreneurs who want to take their business global.

Mathijs Eefting, co-founder and CEO of Moteefe comments: “Our goal when we started the company three years ago was to create the easiest and most powerful way for anyone to design, sell, and scale their product ideas around the world. The sheer volume of products created by the thousands of merchants working with Moteefe brings powerful economies of scale, enabling small businesses using our platform to pass on savings as well as produce timely relevant personal content for their customers.”

Momentum for entrepreneurs and micro-retailers
Since launch in 2015, more than 2,500 micro-retailers and entrepreneurs are leveraging social commerce to build, engage, and monetise new fanbases. Last year alone, more than 200 Moteefe customers sold over $100,000 worth of merchandise with some selling over $1Million. Anecdotally, many have been able to leave their day job to focus on their ecommerce business.

Brands, including entrepreneurs use the platform to instantly capitalise on the latest trends, including viral content and personalisation, addressing consumers’ increasing demand for choice and relevance.

Solutions for large retailers
As there is no minimum order volume, businesses ranging from individual operators to major retailers can work with Moteefe’s platform to minimise the risk, wastage and upfront cost associated with testing ideas, geographies and markets, and scale up production as needed, on demand. It also improves supply chain efficiency by working with local fulfilment partners to minimise shipping distances.

“Now, major retailers are also starting to show interest, as they too need to quickly provide on-demand products and have an easy way to test new ideas — challenges for which their incumbent systems and supply chain are just not prepared,” continues Eefting. “This new funding will enable us to continue to work with entrepreneurs and retailers from all sizes around the world.”

Benjamin Cohen, Chief Executive of PinkNews said: “We wanted to offer our community of tens of millions of users already engaging with PinkNews content more ways to connect with us and express their LGBT+ identity. We have been working with Moteefe since Q3 2019 to create a store on our site with funny, relevant and timely apparel and merchandise. It has been great. We are constantly designing, testing and iterating on our products – printing exactly what people want and need, never needing to store old stock or deal with the logistics of distribution. Having the ability to maintain a shop has added significant new revenue streams and strengthened our brand and our relationship with our customers.”

Steve Cordiner, Head of Unquoted Investment at Gresham House Ventures, adds: “Moteefe has achieved a lot in a short amount of time due to the founding team’s global ambition from the get-go and the scalability that they built into the business model. We recognised the company’s huge potential as a high growth, international, technology-led business and this is just the beginning of an exciting journey for them.”

Moteefe has offices in London, Lisbon and Hanoi and has driven millions of transactions for thousands of micro-retailers and brands.

About Moteefe
Moteefe was founded in 2015 with a mission is to enable brands and retailers from all sizes, with global ambitions, to turn their creative ideas into unique and personalised merchandisable products within minutes. It is the only technology enabled end-to-end e-commerce solution to offer the entire production and fulfilment of high quality, on demand, customised products globally. By taking care of the heavy lifting, Moteefe customers can focus on marketing and designing new products. Every order is produced and routed as close to the end-consumer as possible for cost and carbon reduction. Moteefe is a Deloitte Technology Fast 50 company.

About Gresham House Ventures
Gresham House Ventures invests up to £10m seeks to support exciting UK businesses with bold ambitions for the future, by providing transformational growth capital and expertise to accelerate business potential. For more information about the Gresham House Ventures please visit www.greshamhouseventures.com
Gresham House plc is an AIM-quoted specialist alternative asset manager providing funds, direct investments and tailored investment solutions, including co-investment, across a range of highly differentiated alternative investment strategies. The Group’s expertise includes strategic public and private equity, forestry, renewable energy, housing and infrastructure www.greshamhouse.com.

Force Over Mass Capital
Force Over Mass Capital (FOM) is a venture capital firm with offices in London and Antwerp. FOM focuses on early stage investments (seed, series A, series B) in B2B technology innovation (AI, Fintech, SaaS and Industry 4.0). Force Over Mass manages Pan-European VC Funds and UK EIS Funds and has been recognised for delivering consistent high returns. Please visit www.fomcap.com